Invitation Homes has plans to acquire between $600 million and $1 billion of homes on balance sheet in 2024, according to its Fourth Quarter 2023 Earnings Conference Call.
The firm plans to buy “from our homebuilder partners and via portfolio acquisitions. We expect to fund much of these home purchases by continuing to accretively recycle capital from wholly owned dispositions in an expected range of between $400 million and $600 million,” said Jonathan Olsen, CFO at Invitation Homes.
Olsen added, “We’ll prudently pursue opportunities for meaningful growth and accretive capital recycling, and we’ll continue to lead the industry in our quest to provide the best choices, convenience and overall resident experience for the millions of Americans who prefer to lease a single-family home.”
During the call, Dallas Tanner, CEO of Invitation Homes, said the recent agreement to manage more than 14,000 single-family homes is expected to drive incremental earnin